PC Connection’s Net Income Drops 83%

Jul 19, 2001 9:30 PM  By

Merrimack, NH—Poor PC Connection. The computer reseller’s (Nasdaq: PCCC) profits have taken a nosedive. Net income for its quarter ended June 30 was $1.4 million, down 83% from earnings of $8.6 million last year. What’s more, the marketer posted a 19% decline in net sales for the three months ended June 30, to $297.3 million, compared to $366.1 million for the comparable period last year. Internet sales (those processed directly online) during the period increased a scant 2% to $26.1 million, compared to $25.5 million in the corresponding period a year ago. PC Connection attributes the shortfalls to continued weak demand and pricing pressure in the technology industry, said CEO Ken Koppel in a statement.